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Bodycote to be taken over by US private equity firm Veritas for £1.65bn

Veritas has agreed a £1.65bn bid (940p a share, £1.85bn including debt) to acquire Bodycote, with rival CVC said to be considering a counteroffer. Analysts say the offer is only a 25% premium to the pre-bid level and not particularly generous given the company's recent strategic progress and share buybacks. The deal highlights a wider wave of overseas private equity takeovers of UK-listed industrial firms, raising concerns about the erosion of UK market-listed companies. » More on theguardian.com
Veritas Capital offers 940 pence per share for Bodycote, stock rises to new 52-week high

Veritas Capital has made a binding takeover offer of 940 pence per share for Bodycote, which was unanimously recommended by the board. The offer values the equity at around £1.65 billion and the enterprise value including debt at about £1.85 billion. The Bodycote share rose intraday by about 4.5% to a 52-week high of 957 pence, trading above the offer price as the market factors in the possibility of a higher final bid or competing offers. » More on de.investing.com
Bodycote facing takeover: offers from CVC and Veritas Capital value company at around £1.56bn

Bodycote has received separate takeover offers from private equity firms CVC Advisers and Veritas Capital that value the company at about £1.56bn. CVC is offering up to £9.15 per share, Veritas £9.14 per share; both proposals include cash payments and an interim dividend for 2026. The shares rose about 22% after the announcement. Bodycote said it would be willing to recommend either offer if talks lead to a firm proposal. » More on de.investing.com

Historical dividends Dividends

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In 2026, BODYCOTE PLC LS -,1727272 has already paid €0.19 in dividends. The last payout was in June.

Financials

In the last quarter, BODYCOTE PLC LS -,1727272 had revenue of €442.5M and net profit of €35.98M

(EUR)	June 2026	YoY
Revenue	442.5M	-
Gross profit	60.94M	-
Net profit	35.98M	-
EBITDA	111.44M	-

Fundamentals

Metric	Value
Market capitalization	€1.84B
Number of shares	169.38M
52-week high/low	€11.55 - €6.98
Dividend yield	2.41%
Dividends TTM	€0.27
Next dividend	€0.086
Beta	1.35
P/E ratio	26.76
PEG ratio	0.24
P/B ratio	2.55
P/S ratio	2.08

Company profile

Bodycote plc provides heat treatment and thermal processing services worldwide. The company operates in two Aerospace, Defence & Energy; and Automotive & General Industrial segments. It offers heat treatment services, including altering the microstructure of metals and alloys, such as steel and aluminum to impart properties comprising surface hardness, temperature resistance, ductility, and strength; metal joining services consisting of electron beam welding, HIP diffusion bonding, hydrogen brazing, induction brazing, and vacuum and honeycomb brazing; and hot isostatic pressing (HIP) services, including isostatic pressing and HIP supporting services, as well as Powdermet technology, a manufacturing process used in the production of complex components using powder metallurgy. The company also provides surface technologies, which are used to prolong the working life of components and protect from environmental factors, such as corrosion and abrasion. Its surface technologies include anodizing, ceramic, flame and combustion spraying, high velocity oxygen fuel, plasma spray, electric arc spraying, aluminide coatings, liquid coatings, and thermo-chemically formed ceramic coatings to enhance corrosion protection and wear resistance. The company serves automotive, aerospace and defense, energy, and general industrial markets. Bodycote plc was founded in 1923 and is headquartered in Macclesfield, the United Kingdom.